Jungheinrich (JUN3) Q4 2024 earnings summary

Executive summary

• 2024 saw robust business development despite a difficult market, with incoming orders (€5.3B) and revenue (€5.4B) meeting expectations.

• EBIT return on sales reached 8.1%, and free cash flow rose to €431M, driven by strong working capital management.

• Successful integration of Storage Solutions and Magazino, and expansion of production in Czechia.

• Dividend proposal of €0.80 per preferred share, up 7% year-over-year.

Financial highlights

• Incoming orders increased 1% to €5.3B; revenue decreased 2.8% to €5.4B compared to 2023.

• EBIT rose 1% to €434M; EBIT ROS improved to 8.1%.

• EBT up 1% to €404M; EBT ROS at 7.5%.

• Free cash flow increased by €416M to €431M, mainly due to improved working capital.

• Profit declined 3% to €289M; EPS down 3% to €2.84.

Outlook and guidance

• 2025 forecast: incoming orders €5.5–6.1B, revenue €5.4–6.0B, EBIT €430–500M, EBIT ROS 7.8–8.6%.

• Free cash flow expected to remain above €300M.

• Assumptions: stable supply chains, no major cost or geopolitical shocks.